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The Cash Store Co. just repurchased 11.875 million shares at a price of $14. The stock was trading ...

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The Cash Store Co. just repurchased 11.875 million shares at a price of $14. The stock was trading ...

The Cash Store Co. just repurchased 11.875 million shares at a price of $14. The stock was trading at a price of $16 prior to the repurchase, but a market correction gave the company an opportunity to repurchase at a lower price. There were 100 million shares outstanding prior to the repurchase. The stock is now trading for $16.27. What is the aggregate gain in value to all the shares that remain outstanding as a result of the repurchase? (Compare their value before the repurchase to their value after.)

▸ $18.125M

▸ $20.125M

▸ $21.122M

▸ $23.794M

▸ $27.000M

Textbook

Corporate Finance Online

Edition: 2^nd

Authors: Eakins, McNally

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